Pending Home Sales Jump in June Ending 3-Month Downward Trend

The June numbers are in, and the National Association of Realtors (NAR) is reporting a 1.5% increase in pending homes sales for the month. This reverses a 3-month downward trend, with low inventory levels likely being the primary force behind the jump. When asked about the latest report, NAR Chief Economist Lawrence Yun said, “Market conditions in many areas continue to be fast paced, with few properties to choose from, which is forcing buyers to act almost immediately on an...

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Tell Your Appraiser About Those Multiple Offers

The Arizona real estate market is flooded with multiple offers these days due to low housing inventory levels. Multiple offers usually mean that sellers are getting top dollar for their homes. This is a great situation up until the appraisal comes back lower than the contract price. Since more and more agents are finding themselves in this situation, here is a way to plan ahead and use those multiple offers to your advantage. First, start using an Appraiser Information Packet...

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